Cleantech-oriented Beneq Receives 9 Million Euro Investment

Date: 12 January 2011
Source: Beneq
Finnish Industry Investment, Via Venture Partners and private investors have invested altogether 9 million euros in the Finnish cleantech company Beneq.

Beneq is a supplier of production and research equipment for advanced nano-scale thin film coatings used for example in solar cells, glass coatings, and flexible electronics, such as OLED lighting.

Sampo Ahonen, CEO of Beneq comments on the investment: "This investment in Beneq is, on the one hand, a definite sign of confidence in our corporate strategy, our technical expertise and our projected continued growth. On the other hand, it is also a guarantee of constant expansion and development of our services for our customer base, be that full-scale industrial production, research or R&D".

Beneq, founded in 2005, currently employs over 60 people in its headquarters in Vantaa, Finland and in its sales offices in Germany, China and USA. The company has exhibited an average annual growth rate of 93% during the last three years. In 2010, its turnover was approximately 10 million euros. The company is currently moving from piloting to industrial production.

Juha Lehtola, Investment Manager at Finnish Industry Investment comments: "Beneq is a pioneer in the Finnish nanotechnology sector. The company's technology and equipment bring added value for example to the production of solar energy and many other fast-growing application areas. The company has already proven its growth capabilities and we are expecting strong export-driven growth also in the future".

Via Venture Partner has been an investor in Beneq since 2007 and has taken an active part in the company ever since. Peter Thorlund Haahr, partner in Via Venture Partners comments: "Beneq is an extremely promising company with a strong management team that has proven capable of bringing Finnish technology to the global scene. We hope to find equally good investment opportunities in Finland in 2011".

Beneq Oy, based in Finland, is a supplier of equipment and coating technology for global markets. Beneq turns innovations into success by developing applications and equipment for cleantech and renewable energy fields, especially in glass, solar and emerging thin film markets. Coating applications include optics, barriers and passivation layers, as well as energy generation and conservation. Beneq also offers complete coating services. The coating applications of Beneq are based on two enabling nanotechnology platforms: Atomic Layer Deposition (ALD) and aerosol coating (nHALO® and nAERO®).

Finnish Industry Investment Ltd is a government-owned investment company whose mission is to promote and stimulate Finnish business, employment and economic growth through capital investment. Finnish Industry Investment invests in growth companies, directly and through funds, together with private co-investors. Capital investments are needed for financing the growth of investee companies, internationalisation, spin-offs, major industrial investments, and sector and corporate restructurings. The targets are in all sectors. The investments of Finnish Industry Investment amount to some MEUR 660.

Via Venture Partners is a leading Nordic venture capital fund that invests in Nordic IT- and technology companies with international growth potential. The fund manages EUR 268 million provided by ATP, Denmark's largest pension fund. Since its launch in 2006, Via Venture Partners has successfully invested in several companies in Denmark, Sweden, Norway and Finland and currently holds 13 companies in its portfolio. See also

600450 Cleantech-oriented Beneq Receives 9 Million Euro Investment
Date: 12 January 2011
Source: Beneq

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